UAE fuel prices to rise in October

Motorists can expect price rises of roughly 2 to 3.5 per cent

The UAE’s Ministry of Energy has announced that fuel prices will increase again in October after a slight price rise this month.

From October 1, Super 98 will increase from Dhs1.75 a litre to Dhs 1.81, Special 95 from Dhs1.64 to Dhs1.70, E Plus 91 from Dhs1.57 to Dhs1.63 and diesel from Dhs1.72 to Dhs1.76.

The UAE reduced fuel subsidies last year, instead introducing a system that calculates prices based on global oil benchmarks.

October’s price increases follow a deal between OPEC members late on Wednesday to reduce their oil output for the first time since 2008.

So far the market response has been limited with international oil benchmark Brent declining 0.74 per cent to $48.33 at the time of writing.